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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Cash Flow from Operating Activities:      
Net Income $ 12,610,524 $ 348,665 $ 17,064,899
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and Amortization   9,573,658 7,420,874
Amortization of Intangible Liabilities to Income Property Revenue (444,000) (918,491) (1,203,900)
Loan Cost Amortization 74,000 223,306 213,008
Amortization of Discount on Convertible Debt 256,000 760,354 667,847
Gain on Disposition of Property, Plant, and Equipment and Intangible Assets   (3,628,387)  
Gain on Disposition of Assets Held for Sale   (3,800,430) (18,681,864)
Loss on Disposal of Commercial Loan Investment   352,959  
Gain on Extinguishment of Debt (504,544) (1,141,481)  
Impairment Charges   1,904,500  
Accretion of Commercial Loan Origination Fees   (156,914) (7,431)
Non-Cash Imputed Interest on Commercial Loan Investment   (191,130)  
Deferred Income Taxes   (3,353,798) 3,633,010
Unrealized Loss on Investment Securities   5,649,814  
Non-Cash Compensation   1,518,923 1,445,876
Decrease (Increase) in Assets:      
Refundable Income Taxes     225,024
Golf Assets Held for Sale     (140,927)
Land and Development Costs   (419,445) 2,940,632
Mitigation Credits   1,324,712 14,444
Other Assets   (1,823,190) (1,082,866)
Increase (Decrease) in Liabilities:      
Accounts Payable   (626,581) (331,570)
Accrued and Other Liabilities   3,939,874 849,980
Deferred Revenue   (651,869) 101,806
Golf Liabilities Held for Sale     185,859
Income Taxes Payable   800,081 28,970
Net Cash Provided By Operating Activities   9,685,130 13,343,671
Cash Flow from Investing Activities:      
Acquisition of Property, Plant, and Equipment and Intangible Lease Assets and Liabilities   (138,454,504) (41,448,286)
Acquisition of Commercial Loan Investments   (6,754,375) (7,840,000)
Acquisition of Mitigation Credits   (1,500,000)  
Cash Contribution for Interest in Joint Venture   (22,420) (33,415)
Proceeds from Disposition of Property, Plant, and Equipment, Net, and Assets Held for Sale   37,800,384 77,661,911
Proceeds from Disposition of Commercial Loan Investments   20,981,221  
Net Cash Provided By (Used In) Investing Activities   (87,949,694) 28,340,210
Cash Flow from Financing Activities:      
Proceeds from Long-Term Debt   56,641,000 96,500,000
Payments on Long-Term Debt   (63,915,500) (65,737,247)
Cash Paid for Loan Fees   (1,968,357) (393,184)
Cash Used to Purchase Common Stock   (4,100,021) (31,096,662)
Cash Paid for Vesting of Restricted Stock   (538,081) (303,315)
Dividends Paid   (2,347,770) (1,029,028)
Net Cash Used In Financing Activities   (16,228,729) (2,059,436)
Net Increase (Decrease) in Cash   (94,493,293) 39,624,445
Cash, Beginning of Year   134,904,686 22,031,964
Cash, End of Period 40,411,393 40,411,393 61,656,409
Reconciliation of Cash to the Consolidated Balance Sheets:      
Cash and Cash Equivalents 10,701,531 10,701,531 2,621,259
Restricted Cash 29,709,862 29,709,862 59,035,150
Total Cash as of June 30, 2020 and 2019, respectively $ 40,411,393 $ 40,411,393 $ 61,656,409